The latest official statistics demonstrate the high risk posed by online threats.
The Cyber Security Breaches Survey 2021 from the UK Government shows that among small businesses, while the number of cyber attacks actually fell last year from 46% to 38%i– probably due to a reduction in trading during the COVID-19 pandemic – the number of firms with up to date malware protection also reduced from 88% to 83%ii .
The financial impact of these attacks for businesses of this size remains stark: an average of £8,170 during 2020.
Online crime levels affecting individuals are also significant. According to figures from the City of London Police which leads on cyber crime nationally in the UK, during 2020 there was an average of 2,329 offences reported every monthiii as criminals capitalised on the rise in online activity during lockdown. And even though restrictions have eased, the figures so far in 2021 have remained at a similar level at 2,298 per monthiv.
There are a number of key measures that can help to guard against the threat posed by cyber criminals, covering both human and technological factors.
Firstly, consumers and colleagues within businesses should try to maintain a good understanding of the kinds of attacks out there, and staying on top of emerging threats. This Action Fraud A-Z is a good source of information.
Making sure computer and device firewalls and anti-virus software are up to date is also vital, along with any other security software. Insurance policies can also be put in place and at a business level individuals can be made responsible for leading the work and drawing up policies or response plans should a breach happen.
Across CPP Group we seek to offer services that protect small businesses and individuals from the risks posed by breaches of cyber security, both in the UK and internationally.
These work by using round-the-clock monitoring software to scan for information which has been stolen or shared across the dark web and deep web.
We then provide an easy to use alert system which gives updates when personal data has been discovered.
And subsequently we give step by step guidance on how to respond best to any breaches.
These are all accessed via a straightforward and secure management platform giving users complete control over which data they are protecting, a dashboard view of any issues and access to help when they need it.
The types of information we monitor include passport data, social security data, email accounts, bank account numbers and credit card information.
For some insurance brokers serving the commercial SME market, we are also able to offer a cyber insurance protection product, which can give their customers added protection against the impacts and disruption caused by cyber breaches.
These products and services are another illustration of our aim to ensure everyday stresses do not become major problems.
The digital world is playing an increasingly integral role in our lives and inevitably things go wrong and there are criminals who will exploit any expanding opportunity.
We want our cyber security services to protect against the risks posed and resolve issues more quickly.
Want to learn more about CPP Group cyber security products and services? Email us here.
iSummary, Cyber Security Breaches Survey 2021, Department for Digital, Culture, Media and Sports, March 2021
iiTable 4.1, Cyber Security Breaches Survey 2021, Department for Digital, Culture, Media and Sports, March 2021
iiiCyber crime offences March-December 2020, extracted from City of London Police’s National Fraud Intelligence Bureau Fraud and Cyber Crime Dashboard
ivCyber crime offences January-March 2021, extracted from City of London Police’s National Fraud Intelligence Bureau Fraud and Cyber Crime Dashboard
This insurance is underwritten by certain underwriters at Lloyd’s. CPP Secure is a trading name of Blink Innovation UK Limited who are authorised and regulated by the Financial Conduct Authority, financial services number 790304. Registered Office; 6 East Parade, Leeds, LS1 2AD. Registered in England and Wales, Company No. 10257192.
Sid has held a number of senior positions within CPP Group during his 18 years with the business, including four as Group Product & Marketing Director. He was appointed Chief Operating Officer earlier in 2021 and is responsible for driving the Group’s strategic and commercial objectives.